Banks settling unsecured loans for a big loss
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15th May 2019, 11:41 AM
The Grammar Tyrant
Join Date: Jul 2006
Originally Posted by
Unless it was a regulation or reputation-influenced strategy change to shrink that type of business, which it seems could be the case.
I'm pretty confident it's neither of those.
There haven't been any regulatory changes, and while banks would prefer unsecured borrowers go to loan sharks, they still do unsecured loans. DINKS are good business.
It all makes me remember fondly the mid-1980s, when ANZ Bank had an unsecured loan of $10,000,000 to a well-known businessman.
The point of equilibrium has passed; satire and current events are now indistinguishable.
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